Don’t Jump the Gun Just Yet
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While these numbers do appear gaudy to the naked eye, don’t be fooled. These estimates are strictly contingent on a certain number of assumptions about the size of the marijuana market and how the government elect to tax the sale of the drug.
Colorado & Washington Are Thriving Because Of Pot
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According to the study by the Tax Foundation, Washington and Colorado are slated to make a considerable amount of revenue because of their booming marijuana industries. Initially, Colorado was set to make over $70 million in annual taxes, marijuana sales, and excise taxes. Now, they’re looking at a $140 million projection.
Effects On Social Costs
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Now while the idea of legalizing weed does sound appealing, the biggest concern comes in the form of abuse. The Tax Foundation believes that people are already overusing weed and certain states getting hammered by the cost of marijuana abuse.
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